Ending a fifteen-year-long drought, the Boston Celtics created history last month by winning their record 18 Championship. But with the confetti still flying in the air, fans still on cloud nine, and the players still riding the wave of success, the Celtics nation was left in utter shock when they found out earlier this week that the team’s ownership group Boston Basketball Partners, led by Wyc Grousbeck, was planning on selling all their shares of the franchise in the coming months.
And Wyc’s decision has left the Celtics in limbo as everyone is eager to know who will take over the team next. Amid the chaos, Amazon’s Founder Jeff Bezos has entered the discussion with his latest move as he is reportedly selling 25 million shares worth $5 billion of his 2 trillion dollar company. With Amazon’s stock value hitting an all-time high at $200.43 on Tuesday, Bezos likely wanted to cash in at that price.
But why does Bezos suddenly need access to so much money? Well, the Celtics’ current estimated worth is $4.7 billion and with Wyc deciding to sell the team, the franchise is expected to be evaluated in the ballpark of $5 billion at the time of sale. The timing of Bezos’ massive cashout does raise eyebrows as he is one of the people who has been rumored to be interested in taking over the Celtics organization. And this should not come as a huge surprise as Bezos has wanted to become an owner in the NBA for quite some time. Long before the Celtics buzz, the multi-billionaire was reportedly also interested in purchasing the Phoenix Suns when they were up for sale two years ago. However, Mat Ishbia beat Bezos to it, leaving his dream unfulfilled. But now, with $5 billion ready, Bezos seems poised to seize another opportunity to accomplish his goal.
NBA World questions Celtics’ future with Jeff Bezos as owner
While the motive behind Jeff Bezos’ $5 billion move is still uncertain, it did leave the fans buzzing about his possible entry into NBA ownership. Moreover, some fans were even ignited by the rumors as they predicted a horrible future for the Celtics organization considering Amazon’s questionable treatment of its employees in recent years. “No more bathroom breaks during practice.” A netizen wrote. Notably, ever since the COVID-19 pandemic, Bezos has frequently been criticized for harsh treatment toward his employees at Amazon. In a survey conducted last year of 1484 Amazon warehouse workers from across the nation, almost 70% of them revealed that they had to take unpaid leaves to cope with the mental and physical exhaustion at the job. And some fans expect the same overworking culture in the Celtics organization if Bezos takes over. “Practice starts at 3 pm. 1 minute late that’s a Time Of Task (ToT), one hour unpaid time deduction, negative unpaid time you’re being traded for nothing.” One critical fan wrote.
Meanwhile, some fans believed that Bezos taking over would solve Boston’s financial problems because of how much money he has access to. Thoughts like “Someone who isnt afraid to pay the luxury tax.” And “great so they can just have more money spawn out of nowhere” started flooding in as the Celtics’ starting five are owed a combined $939 million in their new contracts, putting the team in huge luxury tax crisis for several years. But Bezos might not hesitate from taking that hit. And one fan was just picturing Bezos slowly integrating the Amazon brand with the Celtics if he becomes owner, “The Amazon Celtics? Prime Garden instead of TD? 😅”
While the rumors have generated mixed reactions, it will be interesting to see how things will transpire if Bezos actually uses his sold shares to buy the team.
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